BUZZ-Joby Aviation loses altitude after $1 bln stock, convertible deals announced
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Joby Aviation's shares fell 12.3% to $11.73 after announcing $1 billion in convertible bonds and common stock offerings. The funds will support certification, manufacturing, and commercial operations. The stock ended Wednesday down 0.7% at $13.37, with a 60% gain over the past year. Analyst ratings show 2 "buy," 6 "hold," and 3 "sell," with a median price target of $12.50.
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